Lion Energy's (ASX:LIO) main focus is on developing prospects for green hydrogen in Australia.

The newly processed seismic survey from Lion’s East Seram PSC, shows promising results for potential large-scale structures.

The Lofin-2 well has been further prepared for commercial usage after successful testing, and casing installation.

Important procurement related to the green hydrogen project at the Port of Brisbane has been initiated, and development approval documents are almost ready for submission to the Queensland government.

As of Q2 2023, the company had $3.5 million in assets, excluding joint-venture cash.